Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Waterfront Land in Gated Community Title is generated by Realmo AI

    1723 HERON RIDGE Drive, Bloomfield Twp, MI 48302

    View on Map
    Claim this Listing
    For Sale
    $950,000

    LAND - Bloomfield Twp, MI

    Lot size:
    0.58 Acres
    Added:
    Sep 8, 2025
    Days on Market:
    248
    Last Refresh:
    May 13 at 10:06 am

    Property Features for 1723 HERON RIDGE Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential
    Standard status
    Active
    APN
    1907401011
    Lot size
    0.58 Acres

    Taxes and HOA fees

    Tax Description
    T2N, R10E, SEC 7 HERON BAY SUBDIVISION LOT 14 10-31-85 FR 003
    Tax Annual Amount
    11727

    Utilities

    Water source
    Public
    Water front features
    Lake Front
    Water front
    1

    We can help!

    Listing Contact
    Shadia Martini
    Shadia Martini

    Listing agent Shadia Martini

    Listing office Great Estates Realty LLC 30202 Inkster Rd, Franklin, MI

    Listing date Sep 8, 2025

    MLS# 20251034603 Listing URL

    Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Lake Front lot on All‑sports Upper Long Lake
    • Located in Heron Bay, a gated community
    • Bloomfield Hills schools
    • Walk‑out site with southern exposure
    • Incredible views
    • Road assessment is completely paid

    Overview

    This is one of the last remaining lake front lots available in Heron Bay, a gated community. The property is located on all-sports Upper Long Lake and is within the Bloomfield Hills school district. The walk-out site benefits from southern exposure and offers views. The road assessment for this property has been completely paid. The lot size is 0.58 acres. The zoning is residential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Real Estate Agency Law Firm Dental Office Building Supply Skin Care Clinic Accounting Firm Kitchen & Bath Showroom Department Store Bar & Pub Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bloomfield Twp
    County
    Oakland
    State
    Michigan
    Longitude
    -83.311482
    Latitude
    42.592744

    Nearby Similar for Sale

    • $999,000

      West Bloomfield Wooded Land Parcel

      2+ acre wooded parcel in premium Oakland County location.
      6100 PONTIAC TRAIL, West Bloomfield Twp, MI 48323
      View Details
    • $375,000

      West Bloomfield Estate Opportunity Land

      5.75 acres in West Bloomfield ideal for estate or development.
      5920 Greer Road, West Bloomfield Twp, MI 48324
      View Details
    • $850,000

      West Bloomfield Residential Development Opportunity

      11.27 acres in desirable West Bloomfield residential market.
      1860 Hiller Road, West Bloomfield Twp, MI 48324
      View Details
    • $600,000

      Bloomfield Hills Residential Land

      Residential land in Bloomfield Twp with Birmingham School District.
      3868 Lincoln Road, Bloomfield Twp, MI 48301
      View Details
    • $1,150,000

      Bloomfield Hills Estate Building Opportunity

      2.32-acre parcel for custom estate in prime location.
      1355 Orchard Ridge Road, Bloomfield Twp, MI 48304
      View Details
    • $59,900

      Residential Land in West Bloomfield

      Buildable lot in West Bloomfield Twp, excellent potential!
      Hiller Road lot: 94, West Bloomfield Twp, MI 48324
      View Details
    • $699,998

      Residential Land in Bloomfield Township

      1.5 acre residential land for sale in Bloomfield Township.
      Berkshire, Bloomfield Twp, MI 48302
      View Details
    • $950,000

      Luxury Estate Opportunity with Access

      Land with Upper Long Lake access in West Bloomfield Township.
      2954 Long Ridge Court, West Bloomfield Twp, MI 48323
      View Details
    • $389,000

      Residential Land in West Bloomfield

      Half-acre lot ready for custom home in West Bloomfield.
      orchard lake, West Bloomfield Twp, MI 48323
      View Details
    • $399,980

      Residential Land in West Bloomfield

      2.55 acres for residential development, potential to split.
      7230 Walnut Lake Road, West Bloomfield Twp, MI 48323
      View Details
    • $199,000

      Bloomfield Twp Half-Acre Lot

      Spacious lot in desirable Bloomfield Twp neighborhood.
      2390 KLINGENSMITH Road, Bloomfield Twp, MI 48302
      View Details
    • $1,199,000

      Estate Lot in Bloomfield Township

      Estate-sized lot with lake access in Bloomfield Township.
      5050 PONVALLEY Road, Bloomfield Twp, MI 48302
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - Lakefront lot in Heron Bay, Bloomfield Twp with lake views.
    Where is this waterfront land located?
    The property is located at 1723 HERON RIDGE Drive Bloomfield Twp, MI.
    What is the asking price?
    The asking price for this property is $950,000.
    What are key features of this property?
    This property features: Lake Front lot on All‑sports Upper Long Lake; Located in Heron Bay, a gated community; Bloomfield Hills schools
    (248) 931-5199
    We can help!
    Listing Contact
    Shadia Martini
    Shadia Martini
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1723 HERON RIDGE Drive, Bloomfield Twp, MI 48302
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!